Export growth accelerates to 7.3 percent

UNCERTAINTY:Export growth could moderate to a low single-digit number this month due to a high comparison base and the US-China trade row, an official said

By Crystal Hsu / Staff reporter

The nation’s exports gained 7.3 percent to US$29.57 billion last month, accelerating from a 2.6 percent increase in September, as demand for electronic components remained strong, despite growing uncertainty over the global economy, the Ministry of Finance said yesterday.

The latest figure represented the third-highest in history for the same month, thanks to demand for semiconductors used in smartphones, computing devices, as well as Internet of Things and artificial intelligence applications, the ministry said.

Higher oil and commodity prices also lent support to robust outbound shipments, it said.

“The pace of growth might moderate to a low single-digit number this month and beyond, consistent with the trend for the entire second half of the year,” Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.

A relatively high base last year and an ongoing trade row between the US and China would contribute to the slowdown, Tsai said.

The ministry declined to comment on Apple Inc’s iPhone sales after the US technology giant told investors it would not provide sales details starting this quarter.